With prices rising steadily, consumers and small business owners will face the heat as consumption is scaled down, impacting growth
Given the weakness in industrial output and downtrend in inflation, expectations of a rate cut by the RBI at its June meet have risen.
April WPI inflation data that touched lowest level since November 2009 failed to lift the Nifty above 6000 level. BSE Sensex also slipped in red after European markets opened marginally weak.